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economic soundness to this country. that take as big deal. a lot of pain. democrats are upset the president talked about pain on their side of the ail and republicans are saying no way will we give tax relief to middle income americans. they want to continue tax relief to the wealthy. everyone agrees a number around $4 trillion will make a serious debt on our deficit. it will send a statement to the world that the u.s. has gotten ahold of their fiscal problems and they are moving forward. it will give confidence to the american people that we can move forward to bring economic soundness. that's the president's commitment. >> 6:00 on the east coast. welcome to "morning joe." look at that nice live look at times square. joe is looking spify today. he went shopping. it is monday, july 11th. >> i don't know what that means. >> we have msnbc -- well, yes. this is unusual. we have msnbc contributor mike barnicle, john heilemann. what's so funny? >> yeah, what's so funny? i don't get it. he's back. >> we can't get him to leave. we have "morning joe" economic analyst steve rattner and in washington
time. sonja "black widow" thomas won with 40 dogs. i'm a big hot dog lover and can't imagine that. how many do you think you could eat? if you're hungry and like them. they're not the biggest. >> personally, i have had three. >> i can do better than three. >> really? >> i was thinking six or seven. >>> coming up, a grizzly discovery in an indiana creek. police waiting to see if it sheds light on the disappearance of a college coed. >>> also, a civil war reenactors in a battle with mother nature. why they got the shock of their life. >>> wowing the crowds in canada, what the royal couple is up to today. chronologically i'm sixty years old. is it the new forty, i don't know. i probably feel about thirty. how is it that we don't act our age? [ marcie ] you keep us young. [ kurt ] we were having too much fun we weren't thinking about a will at that time. we have responsibilities to the kids and ourselves. we're the vargos and we created our wills on legalzoom. finally. [ laughter ] [ shapiro ] we created legalzoom to help you take care of the ones you love. go to legalzoom.com today and co
] every box of general mills big g cereals can help your kids' scho get extra stuff. ♪ like musical instrents. ♪ and new art supplies. ♪ because they're e only cereals with box tops for education. last year, schools earned over ten million dollars from big g cereals. you can raise money foyour kids' school. look for this logo... only on big g cereals. you can make a difference. >>> welcome back everyone. >> despite the deadlock on how to reduce the deficit, president obama says in his weekly address that republicans and democrats are not that far apart. the countdown to tuesday's deadline shows little time left as you see there, little time to get a bill through both houses of congress and signed by the president. based on what we are seeing and hearing in public from the leaders of both parties, a compromise by tuesday seems impossible, but even now the president says progress is being made. >> i have to say democrats in congress and some senate republicans have been listening and showing themselves willingness to solve the crisis. now, all of us including the republicans and d
reform. it is quite a big undertaking considering there isn't a lot of time left but certainly some movement that we have seen since yesterday, guy. >> any specifics? i think important people who are listening to the process of what's happening in washington, what this means for people over a longer period of time is fewer services and smaller government and maybe higher taxes or higher cost of living your life as the services go away. i mean, all of these have amazing and long lasting ramifications for how we live our lives. my specifics? >> huge long -- no. honestly in terms of the specific, i mean, we can talk generally about where the cuts would come from, entitlements, defense spending, you can see how that would affect different people and the nation as a whole. specifics, no, i think we are going to be getting, obviously, more details on that to come. let's just take a look at some of the things that some of the folks who are coming here to the white house are going to demand because, remember, president obama is hosting eight members of congress, top two democrats and top tw
is it shows that the united states system is not set up to do big things. when a crisis like this comes up they cannot do a deal that would show stability to the world. >> ronald reagan and tip o'neal made big deals. in the 1990s, bill clinton and the republican congress made big deals. and mika, it's not over yet, but it has gotten to the point already that this is damaging the reputation of the united states the longer it goes, and i think we're talking about it damaging our reputation more every day that the crisis goes on. >> i think both sides would agree with that. after a weekend of meetings resulting in yet another impasse, president obama is canceling two fundraisers today to continue negotiations. senate majority leader harry reid said the talks broke down last night because of the republicans insistence on a short-term deal, and their plan would cut $2.7 trillion over the next ten years. officials say it raises the debt ceiling but no tax increases. and he salaid out his latest solution. >> there will be a two-stage possible. it's not physically possible to do this in one step.
the cliff thelma and louise style but 43% of independents say what's the big deal? >> what's the pugh research? they only talk to 764 people. >> they did it all yesterday afternoon. >> by the way, we have a panel of independent voters coming up to see how they're feeling about the debt ceiling debate because obviously, they are the coveted group. >> that panel, 765. >> all right. >> a little bit bigger. >> we go to a panel of one. steve winn is the ceo of winn resorts. they have those casinos and stuff like that in vegas. he was on a conference call with investors and investment banks yesterday and he really let the president of the united states have it. we've got some quotes from the conference call. he says, here you go. "i'm saying it bluntly, that this administration is the greatest wet blanket to business and progress and job creation in my lifetime. and i can prove it and i can spend the next three hours giving you examples of all of us in this marketplace that are frightened to death about all the new regulations, our health care costs escalate, regulations coming from left
call, while we're waiting, is from big sandy, texas. scott is a republican. good morning. caller: yes, susan, if i were a republican and in the negotiations, i would continue to bring up the immorality that the democrats are willing to -- and the fact that they're willing to steal the liberty of future generations with this humongous debt. they need to hold their feet to the fire, and in the end, obama and the democrats will have to come around. there's no doubt about it. we've got the upper hand. even though you've got the press on the president's side, and i want all these democrats that have called in here supporting obama this morning, just ask yourself, are you honestly better off? has his policies actually helped this country? or is it sending this country to oblivion? none of his policies, none of his stimulus, none of it has worked. not one single bit of it. we're worse off now than when he took office, and we're continuing to go downhill. it's time this iron-headed fool relent and let the adults take over. host: thanks for your call. scott from big sandy, texas. here is speak
with big business. they break stories on big business is being corrupt. then you have the right of center papers that are obsessed with big corporations -- i mean, with big government. there. it is cool parity i am not for the outing -- the suppression of the adding of corrupt republicans. there is a huge difference. i am totally for all of these republican screwballs to get into trouble getting fired or quit saying today that they get caught, not stretching out for three ludicrous unbelievably weeks. thank you very much, congressman weiner. thank you. i loved every second of it, congressman weiner. especially the hack part. i am the hacker. so we are fighting back. we are entering a phase where objective and neutral journalism is now laughable thing of the fast. it does not exist. i met the people that trotter pretzel themselves into being totally neutral. no one is neutral in the entire world. you have used the cudgel of false neutrality as a means to push the american narrative to the left for the last 40 years. to hell with it. i am sorry that i am being honest and i believe in freedo
before the debt ceiling is raised. a notion savaged this week by a big-name senate republican. >> it's unfair, it's bizarro. >> reporter: savaged today by senate democrats. >> this is the most outrageous suggestive heard. >> speaker boehner should just give it up. >> but the republican senate leader backed the speaker. >> democrats are out bragging about how they're going to prolong the crisis instead of doing the hard work of trying to solve it. and that includes the president. >> reporter: president obama is not bragging. he's begging for no default. >> if we don't come to an agreement, we could lose our country's aaa credit rating. not because we didn't have the capacity to pay our bills. we do. but because we didn't have a aaa political system to match. >> reporter: house republicans set a vote on the boehner plan tonight. >> here we go again, my friends. >> reporter: senate democrats plan to kill the boehner plan. three days left. saturday, sunday, monday. in reality, especially in the senate, the two political parties really are not that far apart on the key issue, spending. th
's the big question, right? >> looking at the influence of the freshmen today, in general they believe and have very involved local voters to back them up that they were elected in 2010 with a mission to, reign in big government, specifically big government spending, and this debt ceiling debate fits right into that. here's more from one freshman tea partier. >> it would allow the debt ceiling to go up, but only if we had significant cuts, statutory caps and balanced budget amendment and there's a growing movement with that. we met with leadership, we met with majority leader eric cantor and were trying to impress upon them that we need to be for something as republicans, we need to define what we're for. >> senator paul says this is a fight, quote, too important to give up. jon. jon: what kind of influence do the new members have, though? >> well, republicans are in the minority and the senate, so less there, but in the house they're in the majority and tea partiers, or those who agree with the tea party on fiscal issues, among the 87 how freshmen have not been shy about staking their
to have a big, serious debate about what we believe is the right way to guide america forward and when the future --win the future. i am confident i and i am confident that we will win the debate because we have the better approach. but in the meantime, for everyone's a while we can sit down and do something that actually helps the american people right now. >> you consider raising the debt ceiling fairly routine, but at this point is economic, garden. how can you get any agreement with congress? >> -- it is economic armageddon. how can you get any agreements with congress? >> i will keep working hard on it and i hope that this debate has focused the american people's attention a bit more and will subject congress to scrutiny. i think increasingly, the american people will say to themselves, you know what, if a party or politician is constantly taking the position constantly taking the position of, "my way or the highway ," constantly been locked into ideologically rigid positions, then we will remember that at the polls. it is cumulative. the american people are not paying attention t
for the tabloids. host: what about the broadsheets? guest: it is known occasionally. there was a big scandal about mp's expenses last year, which came from information that is the voice of -- information that is the will serve and got on a computer disk. my newspaper paid for that because they thought it was in the public interest. that is a rare instance of a broadsheet paper paying for information. for the tabloids, we call it checkbook journalism. salacious information about a night out on the town with a celebrity or pop star or encounters with celebrities. that culture has grown and become more insidious over the past 20 or 30 years. host: how would you describe, to help put it in perspective -- by the way, we will put the numbers on the screen as we continue this conversation about the phone hacking investigation in the u.k. prime minister cameron spoke this morning at a problem about it and we carry that live on c- span -- spoke this morning in parliament about it and we carry that live on c-span2. we carry rupert murdoch and rebekah brooks yesterday and we will speak about that. how do you
it. and that in a nutshell is why a lot of big, moderate players in this town led by president obama do like this bipartisan scheme. with 13 days until possible default, all eyes are on the gang of six senators, three republicans and three democrats. they met today with house democrats. can they craft a deficit deal that can pass congress? lawmakers ask gang of six democrat kent conrad. >> how does this work? where is it headed? >> reporter: like the deficit commission, like president obama, the gang of six has a plan that's balanced. gang of six democrat dick durbin. >> it does it by putting everything on the table. everything. spending cuts, entitlement programs and revenue. >> reporter: $3 trillion in spending cuts, including cuts in medicare and the like. $1 trillion in tax hikes. but not on most americans. >> we're actually reducing tax rates, both on the individual side and the corporate side. >> reporter: that's a move to win over conservatives, like house gop leader eric cantor. >> and so i don't think that raising taxes, increasing tax rates, is the answer. certainly not in
new york, one person was killed. at least 20 injured in a fiery crash between a tour bus and big rig. the happened on interstate 90 early this morning. both vehicles caught fire. it appears a u.s. soldier helped somebody. authorities say he drove on the scene and pulled passengers out from the burning bus. one passenger claims the bus driver fell asleep. the accident is under investigation. >>> new numbers show more children are dying after being left in hot cars researchers say an air bag that urged children to -- parents to put children in the rear seats of the car worked very well. but they say it had the unintended consequence forgetting about their children. that's tushy because they are out of sight -- that's usually because any are out of sight -- they are out of sight. >>> it's 7:0. we want to check in with -- it's 7:08. right now we're looking at the the commute on highway 24 westbound coming up to the walnut creek area, la fayette and getting up to oakland. it's a nice drive all the way through the tunnel. this morning's commute is gonna be okay if you are driving in san fr
a story saying that big mortgages are back. the financial times and its financial section has two stories of highlights, one talking about stress tests and you may have remembered those from a few years ago done in the united states to test the fiscal capabilities of u.s. banks. this takes a look at european banks. but the one story from new york this morning looks at city baverbing looking at their profits, surging 24% to $3.3 billion. city results mirrors jp morgan. we have been talking about the notion of comfroms when it comes to discussions about the debt and should congress members of the congress republicans primarily as far as these discussions go, and the president, compromise on their ideals when it comes to debt talks? all available for you to join us. e-mail and twitter as well. new jersey. go ahead. caller: good morning. i would just like to say that i wish that the congress would do like the president said and try to put aside their issues just this once. so that the country can be saved economically. i'm so tired of the posturing that they continue to do in the house of rep
the big fight's going going to be over the debt ceiling limit. that's where the hard negotiations are going to be put out. and then they will probably be given a new number, and they'll have to revisit that bill that they've worked on in committee and meet the new number. so if that's what happens, it's probably a good thing. host: so first things first. guest: look, here's what each department or each function of government is going to be getting, and then work out what you think you can get, the most bang for the buck, so to speak. host: let's get to calls for you. we're going to begin with a call from los angeles. michelle is a democrat there. you're on for david keating of the club for growth. caller: given that you made the comments about t republican candidate mitt romney has developed an unshakable reputation as a flip-flop per uses federal powers to coerce taxpayers, and tim pawlenty is hard to pin down, who do you like? guest: well, what the club for we haveohas been doing, published a series of white papers on many of the presidential candidates, all of those that have d
of this cut, cap, and balance. the would like a big deal as obama calls it. speaker john boehner is interested in that, but not much support in making a deal from his own caucus. willing to open his mind to a smaller deal. host: you can read more at com.olitico dot martin kady was joing us. thanks. we are looking at how this issue will be alert and impact the elections of politicians. should this make or break a congressional career? connecticut, good morning to you. caller: this is a great example of how it will have an impact on congressional careers. there are two factors. one is doing nothing, if it is presented as normal and responsible behavior, and to come up with specific cuts on the other hand and is portrayed as dangerous, republicans will pay a price, because the irresponsible behavior that got us into this. the other aspect is who do you believe? the president falsifying the health insurance aspect of his mother's cancer could be so troubling. if the president would make up false tales about what health insurance companies did or did not do for his mother, imagine what he would say
: i think they are looking at a deal short of this cut, cap, and balance. the would like a big deal as obama calls it. speaker john boehner is interested in that, but not much support in making a deal from his own caucus. willing to open his >> more from this morning's "washington journal." the role that religious conservatives are playing in politics. at the table, richard land of theouthern baptist convention. all of these fiscal matters. in terms of how a religus conservative views the nation's debt? >> guest: we're borrowing 41 ces of every dollar our government spends. we have been living way beyond our means for a lg time. if we do not quickly address it, and i mean quickly and significantly, we're going to foreclose our children and grandchildren's future. they will spend their entire lives paying off our debt. my generation will be the first generation in american history to be quick to the children and grandchildren and or standard of living than the one we had. my parents would be aghast at this theorld w ii generation would be aghast. their whole lives were dedicated to u
. >> reporter: but house speaker john boehner claims his debt limit plan has been revived after a big last-minute fix. republicans reworked the package and now it's projected to cut more. $917 billion over ten years. >> it is a test. this is a big step trying to get control of our deficit and our debt. >> reporter: in an interview with brian williams for sunday special "taking the hill, inside congress" boehner played down the loud opposition from some of his own members. >> mr. speaker, is it fair to say that you have a bit of a rebellion on your hands or do you feel -- >> i have a little bit of rebellion on my hands every day. it comes with the territory. >> you don't worry? >> never let them see you sweat. >> reporter: the speaker is getting heat from democrats too. more than 50 just signed a letter saying they would block his plan because it would force us once again to face the threat of default in five or six short months. majority leader harry reid wants to kill the boehner bill and replace it with his own. >> i'm disappointed. i care about john boehner. i think he's a good person.
and making us a better nation? let me introduce to you another dreamer. this is jose migana. a big smile on his face. jose brought to the united states from mexico when he was two years old. he grew up in arizona. he graduated as the valedictorian of his high school class. he enrolled in arizona state university, became the first member of his family to attend college. but then arizona passed a law prohibiting public universities from giving financial aid or in-state tuition rates to undocumented students. hundreds of students were forced to drop out of school. but jose persevered. he found his calling on the speech and debate team where he ranked fifth in the nation. and in 2008, jose migana graduated summa cum laude from arizona state university with a major in business management. jose couldn't work because of his legal status so he went to law school. next year, jose will graduate from baylor university law school in waco, texas. despite his potential to give to this country, jose will not be able to work as a lawyer because of his undocumented status. he sent me a letter and here's
, then we're all in big trouble. host: where do you think that that compromise needs to start? in which house? in the senate? does the president need get involved with this? caller: obviously now with this filibuster, the compromise needs start there. they can have no debate while this filibuster is going on and that's ridiculous at this point in time. it's simply asinine. host: last night, it a news conference, majority leader harry reid talked about compromise and criticized the republican efforts to filibuster his debt plan. this is what he had to say. >> >> tonight a bipartisan party rejected the boehner short-term plan. clearly, we've seen something we've even a lot in the senate but this time, the country's attention is focused on it, a filibuster. a filibuster to prevent us from moving forward on this legislation. the vote that i put forth is a compromise. we would have changed it more but as i indicated on the floor, we had no one to negotiate with. it really is a worst possible time in conducting a filibuster. they're forcing us to wait until tomorrow morning at -- let's see. t
for big oil and wall street executives. this bill's actually more extreme than the republican budget passed in april calling for deeper cuts and more hardships for the middle class and older americans. in fact, this bill does nothing to create jobs, nor invest in the roads, bridges, clean energy technology and job training that would really get our economy moving. in short, h.r. 2560 will stifle growth, hurt middle class families and undercut america's seniors. in my district there are over 93,000 social security beneficiaries and over 85,000 medicare enrollees. on behalf of my constituents and for future generations i stand in strong opposition to this bill and the rule. i know that there are those on the other side of the aisle who want to support a reasonable plan to reduce the deficit. this is not the plan. i urge my colleagues on both sides of the aisle to reject this dangerous proposal and i yield back the balance of my time. the speaker pro tempore: the gentlelady yields back the balance of her time. the gentleman from georgia. mr. woodall: mr. speaker, at this time i'm please
boehner has proposed. boehner has a pretty big job on his hands of maintaining that republican unity that we have seen so far at a time when democratic kennedy is coalescing because of anger over how these talks have gone. host: alexander blogging, thank you. our question this morning is, with the debt limit is affecting more financial decisions. let's go to cleveland, ohio on the democratic line. caller: good morning. host: is it affecting your financial decisions? caller: at this point, no permit but i am living on a fixed income. i am very much worried about whether or not this debt limit will be raised or not to coz i know the treasury department is going to have to make some decisions if it is not raced. i am confident social security recipients will receive their cash benefits. i am also confident those who are desperately in need of their money will receive their benefits. i am confident president obama and the democratic party are going to look out for the needy but i am highly unsettled about what is going on. mr. bolton made the fact that i do not think this debt limit is s
state constitutions, and virginia is the big exception to this because they're the ones, as john just pointed out, established religious freedom, separation of church and state and so forth. if you look at these state constitutions, though, and, you know, i don't have a political axe to grind on this question, but it does fascinate me that almost all of them have very, very specific religious, christian if not protestant qualifications for holding office. so you have pennsylvania, for example. the most radical, democratic constitution of them all. in order to serve the government in pennsylvania, you have to uphold the divine inspiration of the old and new testaments. you know, you have to believe in a god. vermont is the one i love. 177 -- as a historian at least, right? 1776 constitution of the independent state of vermont, you know, today this bastion of kind of secular liberalism upholds the idea that, you know, all people serving in government must believe in the inspiration of -- divine inspiration of the old and new testaments, obey the soundness and be a protestant. so you've
, but it means, mr. president, that we can't be raising taxes on the job creators, and there is a big debate right now about how do we get ourselves out of this fiscal mess. i would submit to my colleagues that the real issue here is spending. if you go back to the foundation of our country, the year 1800, we were only spending 2% of our entire economic output on the government, the federal government. this year we're going to spend 24% to 25%. the historical average over the past 40 years is about 20.6%. we are dramatically higher in terms of what we are spending on our federal government as a percentage of our entire economy. to me, clearly, we don't have a revenue issue here in washington. we have a spending issue. which would suggest that we ought to get after spending, after federal spending, particularly spending that is -- is duplicative, redundant, there are so many things in the federal government that we spend money on that we need to get that waste and that -- and all those types of wasteful spending out of our spending here in washington, d.c., but we also have to focus on those
? >>> plus our big city crowd has gone a bit country this morning for one of the hottest acts around. blake shelton. look at that crowd. the cma's male vocalist of the year takes over our summer concert stage in the 8:30 half-hour. >>> first let's begin with this fatal fall at a baseball game. kim fisher from kxas the nbc station in dallas is at the rangers ballpark in arlington. kim, good morning. >> reporter: good morning, ann. everyone out here is simply in shock over what happened here last night. it started off as a typical play. josh hamilton, snagged a foul ball, he went to toss it up into the stands. but it is what happened in the seconds after that that simply shocked everyone. 39-year-old shannon stone who had come to the game with his son, reached out to grab that ball and he fell over the railing. now some of the people who were around did try to grab him but they just couldn't do it as he fell over. he did fall 20 feet but what we understand is that he was coherent while he was down there talking with paramedics, asking about his son, making sure his son was okay. some of the f
cummings and more. >>> a world renowned hospital earns big bragging rites. for the 22nd year in a row, johns hopkins is named the number one hospital in the rankings. it got the top spots in five of ten specialty fields as well. >>> two weeks to go before the united states defaults on loans. tara mergener has more on a debate and vote on a bill that's not expected to matter. >> reporter: the house republicans are on track to raise the debt limit for a price. >> we can't borrow 40 cents out of every dollar for the country. the constitutional amendment requires a balanced budget. the measure is expected to hit a dead end in the senate. the momentum is building for a bipartisan backup plan. it would let president obama raise the debt ceiling in stages. we need to stay in every day until we resolve the crisis confronting our country. >> reporter: the proposal has a chance, the conservatives are expecting deeper cuts. >> i wasn't elected to do nothing, to kick the can down the road. >> reporter: the white house is urging lawmakers to reach a deal by friday. in washington, tara mergener, e
if your dreams are not big enough and they scare you, then they are not big enough to beat the dreams of dhaka to scare you and we have to dream about when we are really on the team and when we are really on the team we may take one for the team occasionally. only when it is our turn. but if they are not letting us on the team we can't take it anymore, and the fact that this is really serious, this whole thing about social security, about health care, all of this could come unraveled, and these dharma courts the decision and all was that, these are all impacting women and children and all of the cuts are women and children that is not the america that i am a part of. so, when in, people were going to tell you ten reasons they are mad they don't want to go vote, just tell them get mad and go vote. but the real reason to go vote, or you will not believe how bad your next time. thank you for everything you've been doing. thank you. thank you. [applause] [cheering] cheering] "washington journal" continues. host: this is david keating, executive director of the club for growth, which is wh
in the company. to me, if we did that in a big manner a bold manner, then you create demand, demand comes up you put people back to work, that would tell the markets out there we are moving ahead aggressively and boldly, not shrinking, not retracting, but we're going to expand and grow and that then would stimulate further private investment system of that's why i say, we're on the wrong track. we're argue -- on the wrong track when we're arguing about these things. it's demeaning to me to see a president of the united states -- it's encouraging to me that the president realizes we're on the wrong track. i thought he'd be more bold. ron white gave a great speech on the senate floor the other day, and we need more people talking about it. that's why leo, you and your task force, are so important. we have to focus on putting people back to work. not reducing the deficit. that can come later. but to cut spending now is like putting leeches on a sick person. you're going to bleed them more and make them more sick. we have 500,000 people in the public sector lost their jobs in the last two years. do
, and i see that you are less and less likely to be allowed by a big cover. we are building america to practice your religion, to practice your belief in laws, to accept responsibility for individually and as families and as government for your actions, and in that regard, i believe the american dream is lost. host: thanks. we're going to stop you at this time. thanks for adding your comments. on twitter, don't fall into the belief that the dream is dead. you're being manipulated for political purposes. parkville, indiana, sam is a democrat there, to talk about the american dream. good morning to you, sam. caller: hi. it from the united states of america to corporate states of america, united states of america, united corporations of america. corporations own this country. they have the republicans baltimore and paid for. they have the supreme court bought and paid for. we really have a lot of problems coming our way. thank you. host: thanks for your call. "baltimore sun" has a front-page story about immigration. opponents of tuition breaks for illegal immigrants have more signature
company called two men with big hearts moving and storage. but he fell behind in his bills to this company. this storage company because of medical bills that had piled up for him. >> so he just passed away and the family is trying to figure out what they're going to do at the funeral and what they would like to do is get a hold of some of his military stuff, including his two purple hearts but the problem is that particular company is owed by the family $600. the family went over and talked to them and they knocked it down to $500. but nonetheless, they would like to have the stuff for the funeral next tuesday but they got to come up with $500. here's the son of the veteran. >> he was a very patriotic person. >> dad wanted to go out in a blaze of glory. that was on the back of the fire truck. something we want to give for dad. that was one of his last requests. >> he had it for five years. it would be thousands of dollars. don kennedy owns the company so he's not going to release the stuff as of right now unless they pay the $500 which is just -- they just want to get the -- they want t
, the big difference being, he doesn't want to say every five months, let's put the country into economic crisis and all the uncertainty between now and five months from now that that will create. with that, i yield one minute to mr. ryan a terrific member of the budget committee from ohio. mr. ryan: i thank the gentleman. one of the issues we want on the table here is revenue. the top 400 wealthiest people in the united states of america pay 17% tax rate. my constituents in youngstown and akron, ohio, pay a heck of a lot more than 17%. we hear our friends on the other side of the aisle, how all these changes need to occur, how all these problems need to be solved, but heaven forbid, mr. speaker, we ask the 400 wealthiest families in the united states of america to maybe be a little bit patriotic and help us out. and you'll say, well these are the job creators. these taxes won't go into place for another year or two. we've got to get through this downturn. but we need to send a message to the bond market that we are serious. and for us to be this irresponsible and not ask the wealthiest,
on it but i do know that it was in an effort to try to make sure that the rates that the two big providers in mississippi, and, of course, energy was heavily invested in louisiana as well. but i don't know the details on that but i do know. >> mr. mack so, have you had any experience with this kind of think? >> we have not. >> mr. serino, i'm going to the i am going to continue on this. chairman, i would love to talk to you about it and senator mccaskill and i have been talking about it. you know, if this community would've happened to have a municipal provider, let's say they paid 10% under the stafford act of the repair costs, they would be passing along to .5 million to the ratepayers instead of 25 million. court if they have a 75, 25 sure, they'll be passing along 6.2 the ratepayers instead of 25 million. those rate players pay federal taxes in exactly the same way that the neighboring community of carthage that has a municipal utility pays federal taxes. we have more experience with this with devastating i storms. we have miles and miles of polls broken off, and the mileage that is in
be no big deal? when every financial expert, investor, business leader and banker in the country and even every reasonable member of your own political party is telling you the consequences of default would be catastrophic, it's time to start listening. why? because default won't just roil the financial markets, pushing interest rates higher and tank the stock markets, it will affect every american's wallet as well. there are a few things that will happen. social security checks and veterans' benefits and paychecks to our troops would stop. some of the most vulnerable americans would be placed at risk. our promise to the men and women who would protect this nation so bravely and those who protect it today would be broken. we would not be able to make payments to our military. payments on our national debt would stop. american investments in retirement accounts would be decimated. millions of americans could lose their jobs. interest rates would rise, not only for the government but for ordinary americans as well. those americans will pay more for their mortgages, they will pay more to use
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